Nationwide to restrict small cash counter withdrawals

Nationwide Building Society is to stop some customers taking out less than £100 over the counter at its branches.

From 7 June customers with cash cards who want smaller amounts will have to use a cash machine.

The change will not apply to people with debit cards, or those who still use a passbook.

Nationwide said the change was needed to reduce queues in its branches and that there were alternatives for those affected.

But Mike Ivatt, from Kent, told Radio 4's Money Box his 83-year-old father would not feel happy taking out cash in the street and probably could not remember his PIN.

'Sad indictment'

"The service my father has received at the counter has been excellent," he said. "Older people need that service."

He said his father may have to stop doing his own financial transactions.

"Building societies were established to look after their members and it's a sad indictment when a large proportion of those members are going to have to hand over the running of their accounts to other people," Mr Ivatt added.

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